Charlotte Russe Holding, Inc., along with six affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10210). Charlotte Russe, headquartered in San Diego, California, is a specialty fashion retailer of young women’s apparel and accessories that primarily retails products under its own brand name. According to the First Day Declaration, Charlotte Russe—which completed an out-of-court restructuring in February 2018—has filed as a result of continued financial and operational setbacks. Charlotte Russe intends to sell substantially all of its assets under section 363 of the Bankruptcy Code, but does not enter chapter 11 with a stalking horse bidder. Donlin Recano is the proposed claims and noticing agent. The cases have been assigned to the Honorable Laurie Selber Silverstein.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.